DGAP-Adhoc: Praktiker AG: Negative EBITA

 | Source: EQS Group AG EQS Group AG 

Praktiker AG  / Key word(s): Final Results

27.03.2012 21:01

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ad-hoc Announcement according to § 15 WpHG 

Consolidated Annual Financial Statements 2011

Operating earnings: negative EBITA before extraordinary effects  

Praktiker AG 
Am Tannenwald 2 
66459 Kirkel 
ISIN: DE000A0F6MD5 
WKN: A0F6MD 

KIRKEL - 27 March 2012. Praktiker Group closed the financial year 2011 with
an operating loss (EBITA) in the amount of 61.6 million euro before
extraordinary effects.

Extraordinary effects in an amount totalling 473.0 million euro weighed on
the company's earnings before taxes. They have various reasons:

  - The first-time application of a new valuation method for inventories
    resulted in an impairment of inventory assets (69.8 million euro).

  - The drop in sales in financial year 2011 triggered a change of
    corporate planning led to an impairment of non-current assets,
    additions to provisions for onerous contracts (total 147.9 million
    euro) and goodwill impairment (159.5 million euro). The major part of
    these extraordinary expenses had already been incurred by mid-year.

  - The ongoing efforts regarding the programme 'Praktiker 2013' with its
    focus on the repositioning of the Praktiker brand in Germany as well as
    the planned restructuring measures also led to extensive extraordinary
    expenses (95.8 million euro).

The largest part of these extraordinary expenses was not cash-effective in
2011. At the close of the year 2011, cash and cash equivalents stood at
148.0 million euro.

After considering the net financial result and the corresponding tax
income, Praktiker Group reports a net loss for the year in the amount of
554.7 million euro.

As a consequence, the equity dropped to 278.6 million euro; the equity
ratio stood at 18.4 percent.

The complete consolidated annual financial statements will be published on
29 March 2012.


27.03.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Praktiker AG
              Am Tannenwald 2
              66459 Kirkel
              Germany
Phone:        +49 (0)6849 95-3700
Fax:          +49 (0)6849 95-3709
E-mail:       investorrelations@praktiker.de
Internet:     www.praktiker.com
ISIN:         DE000A0F6MD5
WKN:          A0F6MD
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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